The Ministry of Corporate Affairs has issued clarifications by way of Frequently Asked Questions (FAQ) relating to the Corporate Social Responsibility (CSR) obligations of companies under Companies Act, 2013.

Some important aspects clarified by General Circular No. 1 of 2016, dated 12-1-2016 issued for the purpose are: (a) CSR expenditure cannot be...

6th September, 2013
The Companies Bill 2012 received Presidential assent on 29th August 2013, after scores of amendments and years of debates and discussions, particularly on points like mandatory spending on corporate social responsibility (CSR), investor protection measures and one person company. Some of the important features in the new Act which replaces the (old) Companies Act of 1956 a...

By Devaditya Chakravarti and Varun Chablani
The recently enacted Companies Act, 2013 (“Act”), has not only ushered in a new legislative framework but has also put in a place a new paradigm of corporate governance with detailed provisions as to appointment of independent directors. In the past few months, this model has been further bolstered by the clarifications issued by the Securities and ...

By Divya Jain
The Companies Act, 2013 (CA 2013) has introduced path-breaking changes in governance mechanisms, compliances and disclosures, appointment and scope of auditors, responsibilities of independent directors, investor protection and mergers and acquisitions. Introduction of new concepts like ‘corporate social responsibility’ for the first time anywhere in the world is in line wi...

By Anup Koushik Karavadi
Introduction
With an eye on improving governance the Companies Act, 2013 (2013 Act) mandates a number of Board committees for specified companies for audit, nomination and remuneration, Corporate Social Responsibility and stakeholders relationship. Clause 49 of the Listing Agreement also envisages such committees for listed entities.
Audit Committee
Under Sectio...